ARC Resources (TSE:ARX) Given New C$31.00 Price Target at TD Securities

ARC Resources (TSE:ARX) had its target price lifted by TD Securities from C$30.00 to C$31.00 in a report issued on Thursday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

Other analysts have also issued reports about the company. UBS Group dropped their target price on ARC Resources from C$33.00 to C$32.00 in a report on Wednesday, July 10th. CIBC increased their price target on ARC Resources from C$31.00 to C$34.00 in a report on Monday, July 15th. Desjardins upped their target price on ARC Resources from C$30.00 to C$31.50 and gave the company a “buy” rating in a report on Tuesday, July 23rd. National Bankshares dropped their price objective on shares of ARC Resources from C$32.00 to C$31.00 in a report on Friday, September 27th. Finally, Canaccord Genuity Group boosted their target price on shares of ARC Resources from C$27.00 to C$29.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$30.96.

ARC Resources Stock Performance

TSE:ARX traded down C$0.53 during trading hours on Thursday, hitting C$24.53. 980,466 shares of the company were exchanged, compared to its average volume of 2,026,121. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The company’s 50 day moving average price is C$23.75 and its 200-day moving average price is C$24.39. ARC Resources has a 52-week low of C$19.02 and a 52-week high of C$26.45. The stock has a market capitalization of C$14.63 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.29 and a beta of 1.26.

ARC Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, September 27th. This represents a $0.68 annualized dividend and a yield of 2.77%. ARC Resources’s dividend payout ratio (DPR) is currently 35.23%.

About ARC Resources

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.